RM7bil sought under 12MP to resolve Kelantan's water woes
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Sunday, 05 Jul 2020 l 4:00 PM MYT
KOTA BARU (Bernama): The Environment and Water Ministry will seek a RM7bil allocation under the 12th Malaysia Plan (12MP) from the Federal Government to resolve water issues in Kelantan holistically.
Its minister, Datuk Tuan Ibrahim Tuan Man said this involved three major areas, namely, flood mitigation including the construction of four new dams; replacement of water pipes which are more than 40 years old to reduce non-revenue water; as well as upgrading plants and integrated sewage projects.
"The decision was made after taking into consideration the increasing population and to settle water supply problems in Kelantan for the next 30 to 40 years.
"By 2030, we are confident 95% of the water supply problems in the state will be resolved, โ he said after a meeting with Kelantan Mentri Besar Datuk Ahmad Yakob at Kota Darul Naim Complex here Sunday (July 5).
Also present were the state Public Works, Infrastructure, Transportation and Utilities Committee chairman Datuk Azami Mohd Nor and Ministry secretary-general Datuk Seri Dr Zaini Ujang.
Read more: RM7bil sought under 12MP to resolve Kelantan's water woes
Pain now, profit later with longer moratorium, says analyst
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July 5, 2020 8:00 AM
PETALING JAYA: An economist has stated his support for an extension to the six-month moratorium on bank loans, calling on banking institutions to see โthe bigger pictureโ although they might suffer for a while.
Carmelo Ferlito, senior fellow of the Institute for Democracy and Economic Affairs, said helping businesses and households under financial stress to get back on track would pay off in the long run.
The extension of the moratorium might be the best way to prevent customers from defaulting on loans, as banks would lose their credit rating if customers default.
โA moratorium extension could be the best way for the banks to ensure future cash flow; a delay is better than a deletion. In the short run, the extension may create troubles for banks, sure. But it could be the way to grant that profitability comes back in the near future,โ he told FMT.
Read more: Pain now, profit later with longer moratorium, says analyst
MTUC slams BNM, Finance Ministry for 'mollycoddling' banks
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July 4, 2020 @ 2:11pm
KUALA LUMPUR: Banks must be compelled to extend their Covid-19 loan moratorium for Malaysian consumers and businesses by six months, as failure to do so will see a record number of forfeitures.
Malaysian Trades Union Congress (MTUC) secretary-general J. Solomon said the government and Bank Negara Malaysia (BNM) must implement the extension, as many are unable to service their loans under current conditions.
He said this includes the 800,000 workers who lost their jobs in April, and the thousands more who were forced to go on unpaid leave or take pay cuts.
"There should not be any doubt on the part of the government, especially the Finance Ministry and BNM, that a large slice of the workforce is far from ready to resume servicing their car and housing loans.
Read more: MTUC slams BNM, Finance Ministry for 'mollycoddling' banks
Extend loan repayment moratorium, MTUC tells government
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Saturday, 04 Jul 2020 11:10 AM MYT
KUALA LUMPUR, July 4 โ The Malaysian Trades Union Congress (MTUC) has urged the Finance Ministry and Bank Negara Malaysia (BNM) to ask banks to consider extending the moratorium on loan repayments by at least another six months.
In a statement today, MTUC secretary-general J. Solomon said this was needed especially for targeted groups who are still unable to service loans such as for housing and vehicles.
โFor banks to adopt a โbusiness as usualโ attitude and expect workers who are still mired in job losses and with little or no income, to resume paying their loans, is a downright cruel and inhumane act against the borrowers,โ he said referring to many of the 800,000 workers who lost their jobs up until April this year while thousands more were forced to take deep pay cuts or go on unpaid leave.
Citing official statistics, Solomon said it clearly showed that many workers have been rendered unemployed due to the economic downturn caused by the Covid-19 pandemic.
Read more: Extend loan repayment moratorium, MTUC tells government
Consumer groups laud move to extend electricity discount
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July 3, 2020 @ 11:24am
KUALA LUMPUR: Consumer associations believe that the government's move to extend the discount for electricity use for domestic users until the end of the year will greatly help people cope with financial difficulties.
However, they also believe that it was incumbent on the people to adapt to the new normal and manage their energy consumption.
Federation of Malaysian Consumers Associations (Fomca) chief operating officer, Saravanan Thambirajah, said the move would benefit the public, especially those who had been financially hit by the effects of the Covid-19 pandemic.
He said the move came on the heels of several government announcements to help people, including the National Economic Stimulus Package, Bantuan Prihatin and the Bantuan Prihatin Elektrik.
"We've seen retrenchments take place. People are losing their sources of income, so this will help them survive for at least the next six months.
"Consumers will benefit from this discount extension, in which they will not see any surcharge on their electricity bills. With this move, people will have extra money and able to use it for other purposes."
The Energy and Natural Resources Ministry, in a statement yesterday, announced that discounts for electricity usage for domestic users would be extended until the end of the year.
Read more: Consumer groups laud move to extend electricity discount
Black market a drag on Malaysiaโs economy
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Thursday, July 2nd, 2020
IN a recent investigative expose on how fake goods in Malaysia are putting lives in danger, it was reported that this country had the โbiggest marketโ for counterfeit liquor.
A municipal councillor in Penang who has been spearheading a movement against bootleg alcohol for the past six years, P David Marshel, shared that many people found the original products expensive.
Priced out of their budget, they turn to moonshine options which are 70% to 80% cheaper.
Malaysia also ranked number one globally for trading in illegal cigarettes (59%), followed by Brazil (50%), according to an Oxford Economics report titled The Economics of the Illicit Tobacco Trade in Malaysia (June 2019).
However, these figures have since increased to 65%, meaning seven out of 10 cigarettes sold in this country are illegal. Approximately 12.2 billion illegal sticks were estimated to have been sold and consumed here in 2019 alone.
This is an alarming ratio, given the latest World Health Organisation (WHO) statistics which stated that one in every 10 cigarettes and tobacco products consumed globally is estimated to be illicit, with a total of 132 billion illicit cigarettes consumed over 57 countries.
Yet, Malaysia remains a well-known shopping haven, especially for those seeking โbranded luxuryโ goods.
88 peratus pilih moratorium - AKPK
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Julai 03, 2020 07:00
KUALA LUMPUR: Sebanyak 88 peratus atau 2,342 daripada 2,661 responden undian dalam talian yang dijalankan oleh Agensi Kaunseling dan Pengurusan Kredit (AKPK) memilih untuk mengambil moratorium atau penangguhan bayaran balik kewangan yang diperkenalkan oleh Bank Negara.
Ketua Unit Pembangunan Modul Jabatan Pendidikan Kewangan AKPK Nirmala Supramaniam berkata daripada jumlah yang memilih moratorium itu, 48 peratus atau 1,124 responden mahu mewujudkan simpanan waktu kecemasan.
"Ada juga yang mengambil moratorium ini untuk menggunakan duit tersebut membeli keperluan harian 21 peratus (491), pelaburan 16 peratus (375), membuat pinjaman yang lebih rendah 11 peratus (258) dan empat peratus (94) tiada perancangan.
"Bagaimanapun undian ini tidak mengambarkan keseluruhan situasi sebenar kerana ia hanya undian secara rawak yang dilakukan dalam talian melalui Faceboook AKPK dan microsite AKPK, #askAKP dari April hingga Mei lepas," katanya kepada Bernama selepas menjadi tetamu program Ruang Bicara, terbitan Bernama TV, malam tadi.
Dalam pada itu, Nirmala berkata kajian AKPK turut mendapati tahap tekanan kewangan meningkat sebanyak 35 peratus dalam kalangan golongan yang bekerja dalam tempoh Perintah Kawalan Pergerakan (PKP) baru-baru ini.
What Happens To Your Home Loan If You Lose Your Job?
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26 June 2020
Depending on whether you had some sort of preparation for the possibility of suddenly losing your job, there are two possible outcomes you can expect. Read on to find out more!
The idea of losing your job is already a scary enough thought if youโre single and living on your own. Imagine the terror that person will have if they have a family to support AND a home loan to pay off!
The decision to purchase a property is a serious financial commitment that isnโt to be taken lightly. Itโll tie you to regular monthly payments for the next 30 years or more, so if your source of income is suddenly taken away, youโre in for a rough ride.
With the COVID-19 pandemic having a severe impact on the global economy, and countless businesses shutting down or scaling back on staff, the prediction that more than 2 million Malaysians would be jobless in 2020 is a very serious matter.
Now, what will happen to your home loan and more importantly, the dream property that youโve been saving up for, if you end up unemployed? Weโre going to be taking a look at both the good and the bad news, so read on to find out.
The Good News
First up, donโt immediately panic. Under normal circumstances, you should be able to approach your lender in order to work out a plan to still keep your home.
Read more: What Happens To Your Home Loan If You Lose Your Job?
Govโt extends electricity bill discount to Dec 31 for all domestic users
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Thursday, 02 Jul 2020 l 8:39 PM MYT
PETALING JAYA: The government has agreed to extend the discount period for electricity bills of domestic users across the country for a further three months to Dec 31.
Energy and Natural Resources Minister Datuk Dr Shamsul Anuar Nasarah said as a responsible government that is sensitive to the needs of the people, it has agreed to extend the discount until Dec 31 for all domestic users in Peninsular Malaysia, Sabah and Sarawak.
"With this decision, a total of 7.66 million domestic users in the peninsula will continue to enjoy the electric bill discount between 2% and 5% from Oct 1 until Dec 31 as an extension announced by the Prime Minister on March 27 under the government's economic stimulus," he said in a statement on Thursday (July 2).
On June 20, the government announced the Bantuan Prihatin Elektrik (BPE) as an additional aid in the form of free electricity of up to RM231 for the three months during the movement control order (MCO) from April until end of June.
Shamsul Anuar said that the extension also applies for electric users between 601 kilowatt-hours (kWh) and 900kWh, who are enjoying a 10% discount under BPE.
Read more: Govโt extends electricity bill discount to Dec 31 for all domestic users
TNB: Domestic customers will get BPE details in their July bill
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Thursday, 02 Jul 2020 01:06 PM MYT
KUALA LUMPUR, July 2 โ Tenaga Nasional Bhd (TNB) says its domestic (residential) customers may view the details of the Bantuan Prihatin Elektrik (BPE) received for the months of April, May and June in the Detailed Statement issued in July.
In a statement, TNB said customers would receive the Detailed Statement together with their July bills via mail within seven days after the meter reading.
Customers may also view the statement and bills online via the myTNB website and app 48 hours after receiving the Customer Notice.
โTNB meter readers will commence readings for the July bill at customersโ premises from July 3, 2020, and customers will receive the Customer Notice to inform them that the reading has been done,โ it said.
On June 20, 2020, the government with TNB announced the BPE as an additional aid to benefit all 7.66 million domestic customers in the form of free electricity of up to RM231 for the three months during the movement control order (MCO) from April to June 2020.
The aid would be reflected in their actual bill.
Read more: TNB: Domestic customers will get BPE details in their July bill
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